HomeMy WebLinkAbout0519~Y~~ ~ ~; 1S.F.' ~ ~
F~ruvco t~~. ) S H~Ar~11 01 T~i .
W,:: C?I Ct ~ Li 'C R(TAriC~6tE PERSONILL NbP~, 5- S 4~~i 2 6- 3
~L .;~:JIT j0 CNAPTf~ T•iJ/~ ACTi Of N71.
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:1lORTGr~GE ma~ie the day~ beluw set forth bctween the Mortgagor below named and the Alortgagee, METROPULII AN ~10RTGAGE
~'O., a Florida corportatiun.
W Hl: REAS, the !1lortgago~ ~s ~ndrMed to thc Mor~g~gee as cvidenccd by a certa~n mortgage note ( Note) o(even date trom the Mortgagor
to Mortgagce as described bclow.
To secure to the \lortgager the per[otmancc b~ the Mortgagor of all h~s a~rcements xt forth in this Mortgage and the tiote, includ~ng the
repaymrnt of the indebtedness evidenced by the \ote, intercst thereon, sums ad~anced by the Mortgagee in accordance with the provisions of
this Martg~ge [o protcct the licn and srcunty thereof, and interest thereon, the Mortgagor does hertby mortgage, grant and convey to the
`tortgagre the real propc~ty described below togc~hcr with (a) all eauments, nghts, tenements, hereditoments, rents, issues and profits
appunenant thcreto; (A~ all bu~idings, ~tructures and ~mprovcments now or hereatter located upon said reaf property, (c) all of the following
pres~ntl~• attachrd thereto: pipes, plumbing fixturcs and equipment, electrical conduit and wu~ng and fxtures, hcat~ng and cooling and air
~onditioning eyuipment and fixtures, sprinkling and irrigation equipment and fi!etures, pumps, fences and awnings; and (d) range, oven and
reirigeratur prcsenUy upon the premises: aU of the foregoing are here~n rcferred to as the "Property." To have and to hold thc same unto the
~tortgagee, its succe~sors and asslgns in (ee s~mple.
The Mortgagor convenants that he is lawfull}• seized of the estatc hereby~ conve~~ed and he has the right to mortgage, grant and convey tLe
Property, th~t the Propert~• ~s unencumbrrcd except as may be belbw noted, and that the Mortgagor w~ll warrant and defend the title to the
Property aga~nst all claims and demands. •
And the Mortgagor covenants and agrets as follows:
1. To prumptl} pay when due the principal ot ~nd interest on the indebtednrss r~~denced by the \ote and prepayment and latechargesas
provided there~n. ,
2. To pay aU ta~cs, assessments, charges, fints and other impositions of governmental authority aga~nst the Propert~• w•ithin s~xty (60) days
~~f when duc or sixty (60) days prwr to the same btcoming del~nyuent, whichever may~ first uccur. ~
~. If it is noted txlow• that this ~s a second or other subordinate ranked mortg~ge, thrn to promptly pay when due princ~pal and interest
~~w ing undrr mongage(s) of higher priority ("Prior Mortgage(s)"), to promptly pay to the holder(s) of Prior Mort~age(s) sums due on account of
~sxes and ir,surance premiums as may be protiidcd for under the provisions of the Rrior \lortgagNs), and to otherK~se fully, promptly and
completel~• kerp and perform all o( the promises and convenants of Ihe mortgagor under Prior Mortgage~s) and the promissory note(s) secured
ihereb~, all of the loregoing w•ithout regard to any wai~ers, extensions or indulgencrs grantcd by the holder(s) of Prior Mort~agels) unless w~th
:h~ pnur consent ot the Mortgageenj
4. \ot to appl~ to, request of, rece~~•e or accept from any holder of any Pnor ~1or-.gage any money, funds or things of value which would,
might or could br consedered as an a~l~ance secured b~• the I~en of such Prior ~lortgage.
5. \ot to comm-t wastr or permit or suf(er the impairment or deterioration of th~ Property; ~ot to erect or permit to be erected any new
tiwldings vn the Property or an~• strucwral alterations to existing buildings wrthout the ~lartgagec's prior w~ritten consent; to comply w~ith a!1
.ubd-~ is~an restr,cuuns and zoning and other regulatory law•s and ord~nances aftecung the Propert}•. If the Property~ is a condommium unit, the
~langagcsr shall, prnmptl}• and completely per(orm all of his obligations unde~ the declaration of condom~nwm and the condom~nium
.+,lociauon's art~cles of ~ncorportation, b}•-la~vs and rules and regulations and other consutuent condominium documents including but not
i~ mited to the ~+a~ ment of aU regular and special asscssments, the liens for which against the PropertJ~ might or could have prionty over the lien of
e~~s mongage. If the Property is part of a pianned unit dc~•elopment, the Mortgagor shal! promplty comply with all prowsions of the declaration
,~f covenants and restrictions establishing the same and shall promptly fulfill aU his ob6gations under theconstituent documents of the planned
unu de~clopment including the homcowners association's or its equivalent's articlcs and b~•-laws and shall promptly pa}- all assessments or
charges of c~•cr}• uature (no matter how• des~gnatedl the lien for which aga~nst the Propert~• might or could have pnorit}• o~er the I~en of this
murtgagc-
b. To kcep all the Propcrty ~nsurcd as ma}• be reyuired from time to time by the ~lortgagce agamst loss by fire, windstorm, hazards,
~~sualties and cont~ngcncies for such periods and for not less than such amountsas ma~• be reasonabl~~ required by the Nortgagee and to pa}•
prumpiic when due all premiums for such insurance. The Mortgagor agrees to dcli~~er renewa! ar replacement polic~es or certificates therefor to
e hc 4lortgagee at least fifteen ( I S) days prior to the expiration or anniversary• date of the exisdng pol~c~es. The amounts of insurance required bp
: he ~lortgagee shall be min~mum amount~ for wh~ch said insurance shall be wnttrn and it shall tx incumbent upon the Morigagor to ma~ntain
.uch additional ~nsurance as may be necessary to meet and comply fuUy with all co-~nsurance rcyu~rements contained in sa~d policies to the end
; ii.st the ttortgagor !s not a co-inwrer thrreunder. Insurancr ma~• be written b}• a compam• or companies aFpro~•ed b}~ the 1~Iortgagee Iwhich
.,ppro~at shall r.ot be unreasonabl~• withheld- and alt policies and renewals shall bc held bc the ~lortgagee unless m the possession ot a holder of
.s Prior ~1 ortgage. All deta~led des~gnat~ons by the ~loneagor vrhich are accepted by the !4lortgagee and all agrcements betw~een the Mortgagor
., nd ~t~~rtg~gee relating to insurance, now~ etisting or hereatter made, shall be in wnung and shall be a part ot this mortgage agrecment as full}• as
~ h~~ugh ~et fonh verbatim herein and shall go~ern both parties hereto. '~o Gen upon any polic~~ of insurance or upon any rcfund or return
~-emiurn which may be pay~able on the canceliation ur term~nanon thereof shall be gi~en to other than the vfurtgagee exapta holder of a Prior
~tortgage or by pn~er endorsement afl~!ced to such policy and approved b}- the Mortgagee. Each policy of ~nsuranc~ shali have affixed thereto a
Standard \ew York tilortgagee Clause V1'ithout Cuntnbution making aU loss or losses under such policy pa~ablc to thc Mortgagee as its
nterest ma~• appenr. (n the e~•ent an} sum or sums of money become payable thereunder the Mortgagee shall ha~•t the option to recave and
spplq the same on account of the indebtedness secured hereby or to permit the Mortgagor to rece~ve and usc it or an~• part thereof rvithout
.~aiv~ng or ~mpairing an}~ eyuity~, !ien, or right under and b}~ virtue of this mortgage. In the cven. of loss or ph}•sical damage to the Propertpthc
~lnrtgagor .hall g~~e immediate noucr thercof b~• mail to the Nortgagee and the Mortgagee may make proof of loss ~f thc same ia not promptl~
n~~ede b} the ~1ortg:~gor. (n the e~~ent of foreclosure of this mortgage or other transfer of 1-tle to the Property ali nght, title and ~nterest of the
~t~~rtgagot i~ and to thr ins-~rance pohc~e~ ~hall pass to the purchaser or grantee.
' If the ~t~~rtgag~~r fails to perfarm h~s cocenants and agreementscontained in this mortgage, or if the ~lortgaKor fails to perform any dutj
~~r .~hl~gsuc~n ansing under a Pnor ~fortg~gr (~ncluding the pa~~ment of principal and or i~terest, deposrts on account of taaes and snsuran~e
^rrm~um~ and latt charges e~en though the holder of the Prior !11ort~age has made nodemand thercunderand has not threatcned am action in
~rtnectic~n wrth thr same), or if am a~tion or proceeding ~s cummenced which matenaUp af(ects the Mortgagce's interests in the Propert}~.
ncluding but not fimited to eminent doma~n or code enf~rcement or arr.:ngements invo{ving a bankrupt or decedent, or if there isan apparcnt
~ haodnnmrnt of thc Propert}, then the ~lortgagee at rts opuon ma}• pay to the holder of a Pnor Norigage all or pans of the sums necessan• to
~r~ne thr I'nur ilc~rt~ake current, mas make ~pprarances, ma}•enter upc~n and secure.the Propert~, mac duhurse such other,umc Iinciud~ng
~ut nut I~nu~r~1 t~~ thr pa} rnrm c~f insurance prcm~um, and taxes-, ar.d ma~- take such other acron as thr 4lurtgagee rea~~~nafi~l~ deems nere~~ar~~
~ r ad~,.~hie t~~ pr~+tect hu intere~ts ~n the Proprrt}, all wrthuut regard to the ~•alur of the Propert~•. ;1m am~unts d~sbt~ncd b~ thc ~turtgager
nur>uan~ to the pro~i,iuns of thi~ paragraph. together vrith interest thereun at the rate of ei~:htern 1 If.';1 per cent per annum ~h:,ll hrc~~me
+JJitiunal ~ndebttdness of thc ~lortgagot se: ured fi} this mortgage. ('nless the ~~ortg~gor and \tortgagre agree in w nUng to ~umr uthrr term,
t pa~ mrnt, wch amuunts shall be pa}•able immediatel~. \othing ~n this p~r~graph shall reywre thr ~lurtg~grc to incur am r~p: n.r. makc am
,i;,hursement or take am acUon whate~~er.
3i. All proceeds of any aw•ard or claim fur damages direet or conseyuential in connection w•ith any condemnation or an}~ other tak~ng b}•
eminenE domain of the Propert}• or an~• part thereof, or tor conveyance in iieu of condernnation or eminent domam art hereby assigned and shall
h~ paid to the `longager. Unlcis the ~lortgagor and Mortgagee otherwise agrce in writing (a) all proceeds recei~~ed by the ~t~irtgagce shal! be
epplied to the sums secured by this mortgage u~~thout impos~uon of any prepayment charge, and (b) the application of proceeds shalt not extend
ur po~[pone the duc date of installments of principal and interest or change the amounts tnereof.
9. Anp fort-earance by the Mortgagee in exere~sing any nght or remedy hereunder or otherw~ise afforded b~ applicable law shall not be a
u a~•:er of or prec!ude the exerc~se of such : ight or remedy. The procurement of insuranee or the payment of taxes or other liens or charges o! the
ra~rnent ot sums under a Prior ;~tortgage b~• the Mortgagce shali not be a wa~ver of the Mortgagee's nght *.e accelerare the maturity of the
i~de~+tedne» >:cured by this mortgage. AI! remedies pro~~ided in this mortgage are distinct and cumulative to an~• other right or remed}• under
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ii~ii ~iivitK.-~Ztc v[ a~~vi~~c~ ~i~ iavL' f3i C~3iii' ati~ fri3}' ~L CJC=i~iS~L~ ~...^.^.L'SfC..! j, 7r C~.^.~ r.tly os 1 Y-- -
10. To pay all costs charges and expenses including attorney's fees (whether or not litigation occurs anA it it does then those on appellate as
~.~ell as t^a~ k~ei) and abstract costs reasonably incurred or paid at any time by the Mortgager because of the failure on the part of the
Ltor:gagor to pcrfo;:n. comply w~th and abidc by all of his covenants set forth in this mortgage and or the \o:c and or Prior Mortgage(s)and
the prorr:usor~~ ~otc(s) stcured thereb~•.
I I Tt~: ~t~r~b'¢ee ~s a licensed mortgage broker under Chapter 494, Ftonda Statutes.
H~ :~c , ~ Prepared by Stanle}• H Spicler, Attorne~, 4700 Bisca~ne Roule~ard, 11~ami, )=1~nda 3i117
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